UK economy contracted sharply in April after Trump's tariffs

The UK system shrank much than expected successful April arsenic the worst of President Trump's tariffs hit, according to the latest authoritative figures.

The modular measurement of economical output (GDP) contracted a crisp 0.3% successful April, information from the Office for National Statistics (ONS) showed.

During the month, Mr Trump's alleged "Liberation Day" applied steep tariffs to countries astir the satellite and sparked a commercialized warfare with China, the world's second-largest economy.

It's worse than expected by economists. A contraction of conscionable 0.1% had been forecast by economists polled by the Reuters quality agency.

Bad quality for Reeves

It's atrocious quality for Chancellor Rachel Reeves, who has made the propulsion for economical maturation her fig 1 priority.

Additional costs connected businesses were besides levied during the month, arsenic higher minimum wages and employer nationalist security contributions took effect.

When looked astatine implicit a three-month period, however, the system grew. The anticipation of commercialized upset looks to person pushed concern enactment guardant to the archetypal fewer months of the year.

This breaking quality communicative is being updated and much details volition beryllium published shortly.

Please refresh the leafage for the fullest version.

You tin person breaking quality alerts connected a smartphone oregon tablet via the Sky News app. You tin besides follow america connected WhatsApp and subscribe to our YouTube channel to support up with the latest news.